Is the effective rate of interest ever numerically smaller than the nominal interest rate? Explain.

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Is the effective rate of interest ever equal to the nominal interest rate? Explain.
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Is the effective rate of interest ever numerically smaller than the nominal interest rate? Explain.

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Yes the effective rate of interest can be numerically smaller than the nominal interest rate This oc...View the full answer

Business Mathematics In Canada

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